Target Corporation Is a Buy; Strong Momentum from Option Traders

November 1, 2016November 1, 2016Ruchi Gupta

In today’s session Target Corporation (TGT) registered an unusually high (12,161) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious TGT increase. With 12,161 contracts traded and 9624 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: TGT161216C00070000 closed last at: $1.46 or 50.5% up. About 854,797 shares traded hands. Target Corporation (NYSE:TGT) has declined 17.79% since March 30, 2016 and is downtrending. It has underperformed by 20.80% the S&P500.

Target Corporation (NYSE:TGT) Ratings Coverage

Out of 17 analysts covering Target Corporation (NYSE:TGT), 5 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 29% are positive. Target Corporation has been the topic of 40 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Cowen & Co downgraded the shares of TGT in a report on Monday, September 12 to “Market Perform” rating. The firm has “Buy” rating by Citigroup given on Thursday, August 18. The firm earned “Neutral” rating on Friday, September 30 by Guggenheim. Telsey Advisory Group maintained it with “Outperform” rating and $82 target price in Thursday, August 18 report. The stock has “Hold” rating given by Deutsche Bank on Monday, May 16. Vetr upgraded the stock to “Buy” rating in Tuesday, August 25 report. Miller Tabak initiated the shares of TGT in a report on Friday, July 29 with “Buy” rating. The company was upgraded on Tuesday, September 8 by Vetr. Deutsche Bank maintained the stock with “Hold” rating in Sunday, September 6 report. The company was maintained on Friday, May 20 by Goldman Sachs.

According to Zacks Investment Research, “Target Corporation operates large-format general merchandise and food discount stores in the United States, which include Target and SuperTarget stores. They offer both everyday essentials and fashionable, differentiated merchandise at exceptional prices. Their ability to deliver a shopping experience that is preferred by their guests is supported by their strong supply chain and technology infrastructure. They operate as a single business segment. Their credit card operations represent an integral component of their core retail business. They also operate a fully integrated online business, Target.com. Although Target.com is small relative to their overall size, its sales are growing at a much more rapid pace than their in-store sales, and it provides important benefits to their stores and credit card operations.”

Target Corporation offers everyday essentials and merchandise to its customers. The company has a market cap of $39.05 billion. The Firm sells a range of general merchandise and food through its store and digital channels. It has a 13.21 P/E ratio. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items.

TGT Company Profile

Target Corporation, incorporated on February 11, 1902, offers everyday essentials and merchandise to its customers. The Firm sells a range of general merchandise and food through its store and digital channels. The Company’s general merchandise stores offer an edited food assortment, including perishables, dry grocery, dairy and frozen items. The Company’s digital channels include a range of general merchandise, including various items found in its stores, along with a complementary assortment, such as additional sizes and colors sold only online. The Company’s brands include Archer Farms, Market Pantry, Threshold, Simply Balanced, Merona, up & up, Boots & Barkley, Room Essentials, Wine Cube, Circo, Smith & Hawken, Xhilaration, Embark, Ava & Viv, Spritz and Sonia Kashuk.

More notable recent Target Corporation (NYSE:TGT) news were published by: Valuewalk.com which released: “Dividend Aristocrats In Focus Part 18: Target Corporation” on November 01, 2016, also Usnews.com with their article: “Target Corporation Recalls 127000 Halloween Decorations (TGT)” published on October 24, 2016, Seekingalpha.com published: “Target Is Being Patient With Its Strategy Execution” on October 31, 2016. More interesting news about Target Corporation (NYSE:TGT) were released by: Businesswire.com and their article: “Target Unveils Holiday 2016 Plans, Including More Ways for Guests to Save All …” published on October 25, 2016 as well as Seekingalpha.com‘s news article titled: “Target Corporation: Performance Will Be Challenged In The Near Term” with publication date: October 08, 2016.